Ripple News Update

According to a report from the World Economic Forum, the biggest banks on the planet are getting into cryptocurrencies. (Source: “Banks are finally starting to adopt cryptocurrencies,” World Economic Forum, September 22, 2017.)
Many of them are crafting their own bits of blockchain technology, but it’s good Ripple news, regardless.
After all, Ripple’s job is to connect all the various blockchains. It is the interstate highway of cryptocurrencies, not inner city throughway. That’s what makes it special.
However, it needs to add financial firms to its network, which means those firms need to take blockchain technology seriously. That’s why this is such good news.
If financial powerhouses like Barclays PLC (NYSE:BCS) and HSBC Holdings plc (NYSE:HSBC) are hopping on to the bandwagon, we could see massive uptake in the near future.
Readers that are skeptical should take a look at what happened last week—Ripple signed a partnership with American Express Company (NYSE:AXP). Then, just this week, it opened a new payments corridor for Standard Chartered Bank.
In sum, the chips seem to be falling into place for Ripple. And that could explain why XRP is making its way towards $0.25.

What’s Going on with Ripple Prices?

On Thursday morning, XRP prices gained 3.15% against the U.S. dollar, advancing the Ripple to USD exchange rate to $0.241811. The Ripple to Bitcoin rate grew 3.21% to 0.00002947 BTC.
It was a return to upward momentum for Ripple, which had spent the last day or two in hibernation. Previous to that lull, prices were ascendant.

How Active Are Investors?

Between November 21 and 22, trading volumes dropped 23.3% from $217.9 million to $167.1 million. Typically, this kind of fall causes prices to drop, but there was a resurgence overnight and through the early morning hours.
Investors swapped $226.9 million worth of XRP tokens in the last 24 hours. This is still way below the $1.02 billion worth of XRP that was traded on November 16, but that was largely an aberration. XRP volumes are usually in the $100.0-million to $200.0-million range.

Where Is XRP Demand Coming From?

Bithumb, a Korean exchange, is the most prominent trading venue for XRP. It accounted for 45.04% of total trading activity. Coinone and Korbit, two other Korean exchanges, added 7.81% and 6.84% respectively.

Analyst Take:

We believe that XRP will reach $0.40 before the end of 2017, after which it could accelerate towards our 2018 Ripple price prediction of $2.00.

Many of them are crafting their own bits of blockchain technology, but it’s good Ripple news, regardless.

After all, Ripple’s job is to connect all the various blockchains. It is the interstate highway of cryptocurrencies, not inner city throughway. That’s what makes it special.

However, it needs to add financial firms to its network, which means those firms need to take blockchain technology seriously. That’s why this is such good news.

Advertisement

If financial powerhouses like Barclays PLC (NYSE:BCS) and HSBC Holdings plc (NYSE:HSBC) are hopping on to the bandwagon, we could see massive uptake in the near future.

Readers that are skeptical should take a look at what happened last week—Ripple signed a partnership with American Express Company (NYSE:AXP). Then, just this week, it opened a new payments corridor for Standard Chartered Bank.

In sum, the chips seem to be falling into place for Ripple. And that could explain why XRP is making its way towards $0.25.

What’s Going on with Ripple Prices?

On Thursday morning, XRP prices gained 3.15% against the U.S. dollar, advancing the Ripple to USD exchange rate to $0.241811. The Ripple to Bitcoin rate grew 3.21% to 0.00002947 BTC.

It was a return to upward momentum for Ripple, which had spent the last day or two in hibernation. Previous to that lull, prices were ascendant.

How Active Are Investors?

Between November 21 and 22, trading volumes dropped 23.3% from $217.9 million to $167.1 million. Typically, this kind of fall causes prices to drop, but there was a resurgence overnight and through the early morning hours.

Investors swapped $226.9 million worth of XRP tokens in the last 24 hours. This is still way below the $1.02 billion worth of XRP that was traded on November 16, but that was largely an aberration. XRP volumes are usually in the $100.0-million to $200.0-million range.

Where Is XRP Demand Coming From?

Bithumb, a Korean exchange, is the most prominent trading venue for XRP. It accounted for 45.04% of total trading activity. Coinone and Korbit, two other Korean exchanges, added 7.81% and 6.84% respectively.

Analyst Take:

We believe that XRP will reach $0.40 before the end of 2017, after which it could accelerate towards our 2018 Ripple price prediction of $2.00.

Dear Reader: There is no magic formula to getting rich. Success in investment vehicles with the best prospects for price appreciation can only be achieved through proper and rigorous research and analysis. We are 100% independent in that we are not affiliated with any bank or brokerage house. Information contained herein, while believed to be correct, is not guaranteed as accurate. Warning: Investing often involves high risks and you can lose a lot of money. Please do not invest with money you cannot afford to lose. The opinions in this content are just that, opinions of the authors. We are a publishing company and the opinions, comments, stories, reports, advertisements and articles we publish are for informational and educational purposes only; nothing herein should be considered personalized investment advice. Before you make any investment, check with your investment professional (advisor). We urge our readers to review the financial statements and prospectus of any company they are interested in. We are not responsible for any damages or losses arising from the use of any information herein. Past performance is not a guarantee of future results. All registered trademarks are the property of their respective owners.